FMDQ Approves Upward Review Of Eunisell CP Programme To N20bn

FMDQ Securities Limited has approved a 100 per cent upward review of the Commercial Paper Issuance Programme of Eunisell Limited

The company specialises in the provision of speciality chemical solutions across a wide range of industrial users.

In a letter communicating the approval, the Exchange said it was given following a review of an application filed by Eunisell Limited on July 6, 2023, seeking to “increase the extant Programme size from N10 billion to N20 billion.

Also, the validity period of the extant Programme was extended for an additional 12 months, from April 22, 2024, to a final maturity of April 21, 2025.

Reacting to the approval, the group managing director of Eunisell Limited, Mr Chika Ikenga, expressed his appreciation to FMDQ’s board and management. He said the enlarged size of the Programme will enable the company fund growth along the various business sectors as opportunities unfold.

Ikenga also expressed appreciation to Vetiva Capital Management Limited (the sponsors), for their professional guidance and support.

The initial CP Programme size of N10 billion was registered two years ago, in 2021, from which it successfully raised a combined sum of N7.5 billion from its Series I and II Issuances.

Eunisell Limited, with a client base that cuts across food and beverage,  manufactures, oil and gas, beauty and personal care, and hygiene, among others. It has become a strong brand and a major local content player in the Nigerian business community.